Australian PM Morrison: Targeted fiscal stimulus needed after coronavirus outbreak
|Targeted fiscal stimulus is needed after the coronavirus outbreak, Australian PM Morrison said on Monday, as markets await a potential G7 coordinated response to fight the negative economic impact of the virus spread.
Further comments
Fiscal response to be targeted, measurable, scalable.
Government is focused on jobs, cash flow and investment.
Government is 'highly aligned' with the RBA on response.
Expects the big four banks to pass on full interest rate cut if the RBA lowers the cash rate.
AUD/USD attacks 0.6500
On the above comments, the Aussie dollar extends the drops, as AUD/USD now tests the 0.6500 support area, down 0.40% on the day.
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